https://www.taxtmi.com/caselaws?id=34213 The Tribunal upheld penalties imposed under Sections 76 and 78 of the Finance Act, 1994, finding the assessee liable for willfully suppressing information and taxable value. Referring to relevant case law, the Tribunal rejected the challenge, emphasizing the distinct nature of penalties under the two sections, even if arising from the same transaction. The Tribunal clarified that despite certain provisions, the penalty under Section 76 could still be imposed. The appeal against the penalties was dismissed, affirming the imposition under both sections. en-us Thu, 05 Feb 2009 00:00:00 +0530 Thu, 06 May 2010 13:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34213 The Tribunal upheld penalties imposed under Sections 76 and 78 of the Finance Act, 1994, finding the assessee liable for willfully suppressing information and taxable value. Referring to relevant case law, the Tribunal rejected the challenge, emphasizing the distinct nature of penalties under the two sections, even if arising from the same transaction. The Tribunal clarified that despite certain provisions, the penalty under Section 76 could still be imposed. The appeal against the penalties was dismissed, affirming the imposition under both sections. Case-Laws Service Tax Thu, 05 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34213